Edwards Lifesciences Corporation (NYSE:EW) Receives $85.00 Consensus PT from Brokerages

Key Points

• Edwards Lifesciences Corporation has received a consensus rating of "Moderate Buy" from 25 analysts, with an average target price set at $85.00.
• Significant insider sales were reported, with VP Daveen Chopra selling 1,500 shares at an average price of $75.08, decreasing his ownership by 4.29%.
• In the latest quarterly earnings report, Edwards Lifesciences beat analysts' expectations with earnings per share of $0.67 against a forecast of $0.62, alongside revenue of $1.53 billion.

Edwards Lifesciences Corporation (NYSE:EW - Get Free Report) has earned an average rating of "Moderate Buy" from the twenty-five brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $85.00.

A number of brokerages recently commented on EW. Stifel Nicolaus raised their price objective on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Friday. Truist Financial increased their target price on Edwards Lifesciences from $81.00 to $82.00 and gave the stock a "hold" rating in a research report on Friday. Barclays raised their target price on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the company an "overweight" rating in a research note on Friday. JPMorgan Chase & Co. raised their price target on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Friday. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Edwards Lifesciences in a report on Friday.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 2,570 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $77.40, for a total value of $198,918.00. Following the completion of the transaction, the vice president directly owned 50,356 shares in the company, valued at $3,897,554.40. This trade represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Daveen Chopra sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $75.08, for a total transaction of $112,620.00. Following the sale, the vice president owned 33,496 shares in the company, valued at $2,514,879.68. This represents a 4.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,962 shares of company stock valued at $2,641,387 over the last ninety days. Company insiders own 0.34% of the company's stock.

Institutional Trading of Edwards Lifesciences

A number of hedge funds have recently modified their holdings of EW. Nuveen LLC acquired a new position in shares of Edwards Lifesciences in the 1st quarter valued at about $330,881,000. Jennison Associates LLC increased its stake in shares of Edwards Lifesciences by 34.3% during the 1st quarter. Jennison Associates LLC now owns 10,086,033 shares of the medical research company's stock worth $731,036,000 after purchasing an additional 2,576,383 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Edwards Lifesciences by 55.7% in the 4th quarter. Marshall Wace LLP now owns 5,813,419 shares of the medical research company's stock valued at $430,367,000 after purchasing an additional 2,079,642 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Edwards Lifesciences by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 33,210,879 shares of the medical research company's stock worth $2,458,601,000 after purchasing an additional 1,678,154 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Edwards Lifesciences during the 4th quarter valued at about $92,631,000. Hedge funds and other institutional investors own 79.46% of the company's stock.

Edwards Lifesciences Stock Down 1.9%

EW stock traded down $1.54 during mid-day trading on Monday, reaching $78.46. The company had a trading volume of 6,024,534 shares, compared to its average volume of 4,283,557. Edwards Lifesciences has a fifty-two week low of $59.41 and a fifty-two week high of $83.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.66 and a current ratio of 4.45. The company has a market capitalization of $46.02 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 4.00 and a beta of 1.11. The firm has a fifty day simple moving average of $76.58 and a 200 day simple moving average of $73.55.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The medical research company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.05. Edwards Lifesciences had a net margin of 72.96% and a return on equity of 15.25%. The company had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter last year, the company earned $0.70 earnings per share. The firm's revenue for the quarter was up 11.9% on a year-over-year basis. Analysts forecast that Edwards Lifesciences will post 2.45 earnings per share for the current fiscal year.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.